NBT Bancorp Inc. announced net income of $38.1 million, or $0.80 per diluted common share, for the third quarter ended September 30, 2024. This represents an increase from $32.7 million, or $0.69 per diluted common share, reported in the second quarter of 2024. Operating diluted earnings per share, a non-GAAP measure, was $0.80 for the quarter.
President and CEO Scott A. Kingsley attributed the positive operating performance to sequential growth in net interest income and margin for the second consecutive quarter. He also highlighted the strong performance from the company's diverse mix of fee businesses. The company's total assets stood at $13.84 billion as of September 30, 2024.
The Board of Directors also declared a cash dividend of $0.34 per share. This dividend reflects NBT Bancorp's ongoing commitment to providing returns to its shareholders. The company previously completed the acquisition of Salisbury Bancorp, Inc. on August 11, 2023, which added 13 banking offices, $1.18 billion in loans, and $1.31 billion in deposits.
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